LTC Properties Inc Provides $12.7M Acquisition Loan For Katy Senior Housing

The senior housing property located at 1222 Park West Green Drive in Katy, comprising 78 units and 104 beds, was acquired through a $12.7 million senior loan provided by Wendy Simpson of LTC Properties Inc. The loan, an acquisition loan, features full-term interest-only payments over five years at a rate of 9.15 percent. Additionally, approximately $800,000 will be allocated for campus improvements.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $12,700,000
• Units: 78
• Beds: 104
• Address: 1222 Park West Green Drive
• Market: Katy
• Lender: Wendy Simpson - LTC Properties Inc
• Loan Type: Acquisition Loan
• Loan Terms: Five-year loan with full-term interest-only payments

LTC Properties Inc., a real estate investment trust specializing in senior housing and healthcare properties, granted Ignite Medical Resorts the senior loan for the acquisition of the skilled nursing and assisted living campus in Katy. Ignite Medical Resorts will utilize the loan to enhance the campus and further its mission in providing quality healthcare services to the community.